Kim Hong's Group
Mrs. Kim Hong H. has been selected as the village bank president by the other members. She is a meat seller at the local market where she is able to earn some profits to support her family. Her husband, Mr. Chim Lay, is a trailer (taxi driver) who is also able to earn some money to support his family. At the present, her husband’s taxi is too old to use. Mrs. Kim Hong H. is asking for a loan to add to her savings in order to buy a new taxi.
Mrs. Kim Hong H. is a mother of four children, three of whom are attending local public school. The youngest one is a 4 year-old.
About AMKAngkor Microfinance Kampuchea (AMK) is a leading microfinance institution in Cambodia with a wide reach of operations. AMK works with over 6,000 villages and serves clients in every Cambodian province. With an average loan size of US$115, AMK’s focus is to provide credit and savings products to the very poor in rural areas. For more information, please visit AMK's website.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid